Crescent Harbor Private Wealth Joins Sanctuary Wealth from Merrill Lynch to Grow Business
Crescent Harbor is a next-generation practice that serves the wealth management needs of a select group of high-net-worth individuals, families, corporate executives and business owners. Specializing in assisting clients who are navigating life transitions, such as selling a business, retirement, managing an inheritance or divorce, the team establishes strong relationships and deep understandings of each client’s goals. Crescent Harbor provides customized service and support to handle all aspects of the clients’ financial lives, including managing and diversifying concentrated stock risk for corporate executives. Their high-touch, multi-generational approach gives Crescent Harbor a family-office type of appeal.
“We are thrilled to expand Sanctuary’s presence in New Jersey with the addition of Crescent Wealth as our latest partner firm,” said Vince Fertitta, President, Wealth Management, Sanctuary Wealth. “Having spent their entire careers in the wirehouses, John and Jason decided that the time was right to explore independence. They were looking for a better future for themselves and their clients, with greater choice, flexibility and self-determination–and they found that and more with Sanctuary. We look forward to providing the Crescent Wealth team with the service, support and value-added resources they need to grow and prosper for years to come.”
John Araneo, CIMA®, CPWA®, CEO and Founder of Crescent Harbor began his career as a wealth manager in 1998 and has been proudly helping individuals and families align their finances and investments with their goals while working at Merrill Lynch and Morgan Stanley. Cultivating a sophisticated practice, Mr. Araneo earned the Certified Investment Management Analyst® Designation (CIMA®*), as well as the Certified Private Wealth Advisor® Designation (CPWA®). He received his bachelor’s degree from Boston College.
“Going independent allows us to get back to why we became wealth managers in the first place – to put our clients’ needs first,” said Mr. Araneo. “Now we can build a culture that can be as resourceful, compassionate, ambitious and energetic as we want. During our due diligence process, it became clear that Sanctuary was the best place for us. They have a truly open architecture approach, with great support and a multi- custodial option that we really appreciated. They know what we are trying to do and are committed to our success. We immediately felt at home and are not looking back.”
Jason Greenfield, Managing Partner of Crescent Harbor, became a wealth manager with Merrill Lynch in 2019, after a decade working in the hospitality industry. He leveraged his experience in providing high-quality service in his new career of assisting individuals, families and businesses achieve their financial goals. Mr. Greenfield received his bachelor’s degree from the University of Miami.
“While I’m early in my career, I’ve grown up around the business and have seen enough firsthand to recognize that independence is the future of wealth management,” said Mr. Greenfield. “With Crescent Harbor, we are building a strong foundation to attract like-minded advisors and clients. We have a clear vision of where we want to be in five years and are looking to grow by acquiring books of business and bringing in advisors to manage these new relationships, as well as inviting existing teams to join us. We are also looking to expand geographically into the fast growing South Carolina and Florida markets. Moving to Sanctuary is the catalyst we needed to jump-start our growth strategy. We’re excited to be here and can’t wait to see all we can do together.”
Adam Malamed, CEO of Sanctuary Wealth, concluded, “On behalf of the entire leadership team, I’m very pleased to welcome John and Jason to Sanctuary. They bring a clear vision of what they want to achieve for their growing business and we look forward to providing them the freedom and flexibility, as well as the support they need to reach these goals.”